Character.AI Reports 250M Downloads as Company Eyes Public Listing in Q3 2026

Noam Shazeer's Character.AI has surpassed 250 million app downloads globally and is reportedly in early discussions with investment banks for a potential IPO in Q3 2026. The company has focused recent product development on long-term relationship memory and customizable AI companion features. Revenue from its subscription tier has grown 3x year-over-year, though the path to profitability amid high inference costs remains a key investor concern.